Sadiq Khan to divert Affordable Homes Programme development grant into buying 10,000 existing private homes
by m_s_m_2
Sadiq Khan to divert Affordable Homes Programme development grant into buying 10,000 existing private homes
by m_s_m_2
9 comments
Enjoy spending most of your wage on exorbitant rent?
Glad that sky-rocketing property prices mean you’ll never get a foot on the housing ladder?
Then you’ll LOVE the fact that more of your hard-earned money is going towards buying up private housing stock to make way for social housing.
You actually get to pay for the luxury of pricing yourself further out the market. Enjoy, private renters and buyers!
This is a pragmatic approach to providing homes to Londoners.
I’m sure building new homes will be cheaper. That’s because they are built using poor materials and poor workmanship .
Buying private homes means more people will be able to move into homes much quicker. And that’s got to be a good thing.
The existing housing strategy for London hasn’t been delivered and something smart and drastic has to happen.
Ridiculous policy, this will do nothing but pump up house prices slightly making it harder for people to buy houses for those not reliant on the state. Build houses FFS. 10,000 homes will also probably use the entire fund.
From knowledge of a local authority that’s doing this, they’re buying up stock that landlords are trying to get rid of to rent via a letting agent at LHA rates to clear their exorbitant costs in spot purchased TA.
It’s not social housing, but it’s the best option in a crap situation.
I wonder though if we’ll likely see a lot more property come onto the market in the next little due to people having to downsize because of rate increases, while that councils might be in a stronger position to buy back.
Your concern that buying up private stock will make things tricky for private renters is a bit, rich, when balanced against the 40 year history of social housing being transferred to private ownership.
In other words – London will artificially push house prices up.
More housing stock for social tenants from overseas to occupy at the expense of local working people.
Hooray.
Sadiq Khan’t deliver, as usual.
How is this going to fix the supply issue? Seems painfully shortsighted.